Learning by Doing: Teaching Introductory Econometrics with an Applied Approach
James J. Jozefowicz and Stephanie M. Brewer
This paper reports on a comprehensive research project integrated in introductory econometrics classes. The assignment requires each student to conduct empirical research on a topic of his/her choice and write a formal paper formatted like a scholarly journal article. Students gain hands-on experience applying econometric techniques to real economic data and learn how to conduct independent research. Students serve as peer referees and write critiques of peer work. The project allows the instructor to meet various collegiate education taxonomy criteria identified by other scholars: significant learning experiences, principles for statistics education supported by cognitive learning theory, and the Hansen Proficiencies for economic education. Both the benefits of the assignment for students and the benefits and costs for the instructor are discussed.